Shore Capital Reiterates Buy Rating for Bytes Technology Group (LON:BYIT)

Shore Capital restated their buy rating on shares of Bytes Technology Group (LON:BYIT) in a research report report published on Tuesday, MarketBeat Ratings reports.

Bytes Technology Group Price Performance

Shares of LON BYIT opened at GBX 475 ($6.20) on Tuesday. The firm has a market cap of £1.14 billion, a P/E ratio of 2,500.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 3.50. Bytes Technology Group has a 1-year low of GBX 433.80 ($5.66) and a 1-year high of GBX 665 ($8.68). The business’s 50 day moving average is GBX 484.57 and its 200-day moving average is GBX 506.51.

Bytes Technology Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be paid a GBX 3.10 ($0.04) dividend. The ex-dividend date is Thursday, November 7th. This represents a dividend yield of 0.65%. Bytes Technology Group’s payout ratio is 4,736.84%.

Insider Activity

In other news, insider Sam Mudd acquired 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of GBX 506 ($6.61) per share, with a total value of £25,300 ($33,037.35). Corporate insiders own 9.51% of the company’s stock.

About Bytes Technology Group

Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.